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Health Savings Accounts 

If you are covered by a high-deductible health plan (HDHP), you may be eligible for a Health Savings Account (HSA) - a flexible, tax-free way to save for medical expenses. Besides helping provide peace of mind, HSAs offer many advantages.

Contributions Options

The annual contributions limit is based on the type of high-deductible health plan (HDHP) coverage you have. 2018 contributions limits are $3,450 for single coverage and $6,900 for family.

These limits are subject to annual cost-of-living adjustments (COLAs).

"Catch up" contributions up to $1,000 per year are available to you if you are age 55 or older by the end of the taxable year and for any months you are not enrolled in Medicare.

Tax Advantages

HSAs allow you to make tax-deductible contributions. Earnings, including gains, in the HSA are tax deferred. Plus, your distributions (the contributions and earnings you withdraw) are tax free as long as they're used to pay for qualified medical expenses.

Flexibility in Spending

You can use the money in your HSA to pay for - or reimburse - qualified medical expense for you and your family members.Those expenses could include health insurance deductibles, co-payments, certain prescription medications, and out-of-pocket expenses.

Year-to-Year Savings 

You've heard the phrase "use it or lose it." Well, an HSA isn't like that at all. Your HSA balance will carry forward year after year, allowing you to budget for your health expenses and build up your savings to cover qualified medical expenses when the need arises.

Individual Ownership

An HSA is owned by you, not your employer. So it's your responsibility to maintain the HSA. Ask us for more details.

Start Saving Today

If you'd like to take advantage of deductible contributions and the flexible, tax-free features of an HSA, just stop by your nearest HHCU service center or call 800-865-2612 today!



This is intended to provide general information on federal tax laws governing HSAs. It is not intended to provide legal advice or to be detailed explanation of rules or how such rules may apply to your individual circumstances or under state laws. 
For specific information, you are encouraged to consult your tax or legal professionals. IRS Publication 969, Health Savings Accounts and Other Tax-Favored Plans, the instructions to IRS from 8889, and the IRS's website,, may also provide helpful information.


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